Aspen Neuroscience: OrbiMed buys 1M IPO shares
The IPO activity also included a 1,000,000-share purchase at $15 per share, alongside conversions involving five preferred-stock series.
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Form Type
4
Rhea-AI Filing Summary
Aspen Neuroscience, Inc. (ASPE) preferred stock held by OrbiMed Private Investments VII, LP automatically converted into common stock in connection with the IPO’s completion, on a 1-for-9.8821 basis and for no additional consideration. The conversions involved Series Seed-2, Series A-1, Series A-2, Series B and Series C preferred stock. OPI VII also purchased 1,000,000 common shares in the IPO on November 2, 2026, at $15 per share. OrbiMed Advisors LLC and OrbiMed Capital GP VII LLC jointly reported the transactions and disclaimed beneficial ownership except to the extent of any pecuniary interest.
Insider Trade Summary
Net Buyer: 1,000,000 shares
Net Buy
11 txns
Insider
ORBIMED ADVISORS LLC, OrbiMed Capital GP VII LLC
Role
Director, 10% Owner | Director, 10% Owner
Bought
1,000,000 shs ($15.00M)
Increase in Position
38.6%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series Seed-2 Convertible Preferred Stock F1, F3, F4 | 196,541 | $0.00 | $0.00 |
| Conversion | Series A-1 Convertible Preferred Stock F1, F3, F4 | 642,745 | $0.00 | $0.00 |
| Conversion | Series A-2 Convertible Preferred Stock F1, F3, F4 | 616,984 | $0.00 | $0.00 |
| Conversion | Series B Convertible Preferred Stock F1, F3, F4 | 625,743 | $0.00 | $0.00 |
| Conversion | Series C Convertible Preferred Stock F1, F3, F4 | 507,119 | $0.00 | $0.00 |
| Conversion | Common Stock F1, F3, F4 | 196,541 | -- | -- |
| Conversion | Common Stock F1, F3, F4 | 642,745 | -- | -- |
| Conversion | Common Stock F1, F3, F4 | 616,984 | -- | -- |
| Conversion | Common Stock F1, F3, F4 | 625,743 | -- | -- |
| Conversion | Common Stock F1, F3, F4 | 507,119 | -- | -- |
| Purchase | Common Stock F2, F3, F4 | 1,000,000 | $15.00 | $15.00M |
Holdings After Transaction:
Series Seed-2 Convertible Preferred Stock — 0 contracts (Indirect, See footnotes);
Series A-1 Convertible Preferred Stock — 0 contracts (Indirect, See footnotes);
Series A-2 Convertible Preferred Stock — 0 contracts (Indirect, See footnotes);
Series B Convertible Preferred Stock — 0 contracts (Indirect, See footnotes);
Series C Convertible Preferred Stock — 0 contracts (Indirect, See footnotes);
Common Stock — 3,589,132 shares (Indirect, See footnotes)
Holdings Before and After:
Series Seed-2 Convertible Preferred Stock, 196,541 to 0 contracts (Indirect, See footnotes);
Series A-1 Convertible Preferred Stock, 642,745 to 0 contracts (Indirect, See footnotes);
Series A-2 Convertible Preferred Stock, 616,984 to 0 contracts (Indirect, See footnotes);
Series B Convertible Preferred Stock, 625,743 to 0 contracts (Indirect, See footnotes);
Series C Convertible Preferred Stock, 507,119 to 0 contracts (Indirect, See footnotes);
Common Stock, 0 to 3,589,132 shares (Indirect, See footnotes)
Other Insiders: 3 other insiders reported open-market purchases of this stock in the 30 days up to this filing.
Footnotes (4)
- F1. Pursuant to the Issuer's Amended and Restated Certificate of Incorporation, as amended, each share of Series Seed-2 Convertible Preferred Stock, Series A-1 Convertible Preferred Stock, Series A-2 Convertible Preferred Stock, Series B Convertible Preferred Stock, and Series C Convertible Preferred Stock (collectively, the "Preferred Stock") was convertible, at the option of the holder, at any time. In connection with the completion of the Issuer's initial public offering of its Common Stock, each share of Preferred Stock automatically converted on a 1-for-9.8821 basis into shares of Common Stock, for no additional consideration. Share numbers give effect to such conversion. The securities have no expiration date.
- F2. Reflects shares of the Issuer's Common Stock purchased in the Issuer's initial public offering.
- F3. Securities held by OrbiMed Private Investments VII, LP ("OPI VII"). OrbiMed Capital GP VII LLC ("OrbiMed GP") is the general partner of OPI VII. OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of OrbiMed GP. By virtue of such relationships, OrbiMed GP and OrbiMed Advisors may be deemed to have voting and investment power with respect to the shares held by OPI VII. OrbiMed Advisors exercises investment and voting power through a management committee comprised of Carl L. Gordon, W. Carter Neild, and Geoffrey C. Hsu, each of whom disclaims beneficial ownership of the shares held by OPI VII, except to the extent of its or his pecuniary interest therein if any.
- F4. This report on Form 4 is jointly filed by OrbiMed Advisors and OrbiMed GP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. The Reporting Persons have designated Peter Thompson, a member of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any of such entity or person is a beneficial owner of such securities for purposes of Section 16 of the Exchange Act, or for any other purpose.
Key Figures
IPO purchase: 1,000,000 shares
IPO purchase price: $15 per share
Common shares from Series Seed-2 conversion: 196,541 shares
+4 more
7 metrics
IPO purchase
1,000,000 shares
Purchased November 2, 2026
IPO purchase price
$15 per share
Purchase on November 2, 2026
Common shares from Series Seed-2 conversion
196,541 shares
Conversion on November 2, 2026
Common shares from Series A-1 conversion
642,745 shares
Conversion on November 2, 2026
Common shares from Series A-2 conversion
616,984 shares
Conversion on November 2, 2026
Common shares from Series B conversion
625,743 shares
Conversion on November 2, 2026
Common shares from Series C conversion
507,119 shares
Conversion on November 2, 2026
Key Terms
1-for-9.8821 basis, initial public offering, voting and investment power, pecuniary interest
4 terms
1-for-9.8821 basis financial
"automatically converted on a 1-for-9.8821 basis"
initial public offering financial
"completion of the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
voting and investment power regulatory
"may be deemed to have voting and investment power"
pecuniary interest regulatory
"except to the extent of its or his pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did ASPE preferred stock convert in the IPO?
Each share of Series Seed-2, Series A-1, Series A-2, Series B and Series C convertible preferred stock automatically converted into common stock on a 1-for-9.8821 basis for no additional consideration. The reported share numbers give effect to the conversion.
AI-generated analysis. How Rhea-AI works. Not financial advice.
